Milei Destroys Socialism in Davos

Socialism is an impoverishing system that has failed and shouldn’t be defended out of fear of retaliation.
Milei Destroys Socialism in Davos
Argentina's President Javier Milei delivers a speech at the World Economic Forum (WEF) meeting in Davos on Jan. 17, 2024. Fabrice Coffrini/AFP via Getty Images
Daniel Lacalle
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Commentary

Big corporations and global leaders adhere to and assume growing interventionism and the advance of socialism because, for politicians, it’s an excellent way of perpetuating their power and control over citizens, while multinationals tolerate it because they have enough financial muscle and size to absorb the pernicious effects of the massive rise in public debt and monetary imbalances, public spending, taxes, barriers to trade, and progress.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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